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Downloads…
Download the archived call (Right-Click, Save As): December 17, 2013
Download materials: Materials for 12-17-13 call
Call notes…
Recapping the Noteschool Event
Travis Tollestrup: Noteschool Summit in June 2014, details on membership under Events
0:07:06 Bob Repass: New assets available, if you have done NDA you will be emailed. If not, you will be emailed to complete one.
-Send bids to Offering@colonialfundinggroup.com
0:12:28 Tim Walch: borrower is deceased, mortgage company refusing to cooperate. Unresponsive.
0:24:44 Dave Franecki: Home in Indiana was broken into, lawsuit threat from borrower
0:29:16 Ken chimes in…
0:32:11 Cathy Woodson: Note bought back in June is not valid, despite what lawyer says.
0:47:20 Susan Pryor chimes in on the lawyer claiming the validity of the note.
0:56:46 Eddie and Charles question whether or not Cathy’s note wasn’t in fact an REO
1:01:00 The Importance of Confidentiality Agreements and maintaining our relationships with the hedge funds.
1:02:46 Susan Pryor chimes in again on taking photos on properties, not stepping foot on property.
Call topics…
Topics covered:
Title
o Tim Walch
Theft & HHF
o Dave Franecki
Executive Summary
o Cathy Woodson
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In July 2013 I bought my first note. I discovered later that the titleholder had died 6 months earlier. I called a [service company] and they said a service company cannot help me because the titleholder died and I have to hire my own foreclosure attorney. I found out from talking to vendors at the appreciation event this weekend that was not true.
Anyway, I found a foreclosure attorney in the town of the note, Champaigne Ill. There was a payment history in the due diligence file provided by the note seller., Granite. My attorney said the payment history was not a payment history because it only showed small fees being added after the loan had defaulted and did not even show who the paperwork was from. Granite worked with my attorney during Aug, Sept, Oct, Nov while the [mortgage seller] transferred us from person to person, each needing different information, before they would give us the payment history, to foreclose. Finally they said we would have the payment history on Friday.
Instead the research dept asked for the estate paperwork. My attorney explained the titleholder had died penniless and an estate was never opened and will never be opened with her death being a year ago now. NPC Mortgage said they have now closed our case and will not give us the payment history without estate paperwork.
Finally, My question is how to get the payment history I deserve since it should have been given from the beginning from a company (PNC Mortgage) that continuous to take money from us but refusing to give us what we need without us suing them.
Thanks
Tim Walch
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See attachment for Dave Franecki’s questions about house theft and Hardest Hit funds.
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I am attaching an executive summary & some other related documents for a note I would like to discuss this afternoon. I discussed this with Charles last weekend at the meeting.
Cathy Woodson
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Listen…
[thaudio href=’https://members.noteschool.com/wp-content/uploads/2013/12/December-17-2013.mp3′]December 17, 2013[/thaudio]